Corporate Earnings Flood Wall Street

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after Corporate Earnings Flood Wall Street. Stocks in heat map are based on the top 10 holdings of each sector ETF. Click on each picture to zoom in. Below is a summary of today’s action on Wall Street provided by CNBC:

Earnings season kicked off last week with JPMorgan Chase, Citigroup and Bank of America releasing their results. Goldman Sachs, Morgan Stanley, Verizon and Honeywell are among the companies set to report this week. “This week is important because you’ve got companies from almost each sector reporting, so you’re going to get a good picture” of Corporate America’s health, said Quincy Krosby, chief market strategist at Prudential Financial.

The main focal point from today’s session was the flood of corporate earnings that hit Wall Street this week. Major S&P 500 companies reporting earnings starts this afternoon with Netflix, which popped in extended hours after beating EPS and revenue estimates in its earnings report. Other major companies reporting earnings this week include Johnson & Johnson, Goldman Sachs, IBM, United Health Group, Verizon, PayPal, General Electric, P&G among others. At the end of the week we should have a better understanding of how earnings season is going and how the economy is doing.

Some bright spots and standouts from today’s action included Apple (AAPL) which caught a strong bid of over 1% as Key Bank raised its price target. JP Morgan Chase (JPM) jumped over 2% as a majority of the XLFs top 10 holdings continued with strong gains in the rising rate environment.

About the authorTim Link

My goal is to provide a blog that consolidates stock market information for the average investor from at least five credible sources including stock reviews, analysis, financial news and market trends by sector.